Mortech Automates AllRegs Compliance Checks

Mortech Automates AllRegs Compliance Checks
New workflow within Marksman reduces lender risk by automating the AllRegs
eligibility test
Business Wire
LINCOLN, Neb. -- December 17, 2013
Mortech, a Zillow® business providing mortgage technology software solutions
for mortgage bankers and secondary market teams, today announced a new
workflow within Mortech’s Marksman® pricing engine. Loan officers now can
access and automatically incorporate investor underwriting guidelines via an
exclusive partnership with AllRegs.
The new option now is available on both the product and rate screens within
Marksman. Results are automatically color coded to let loan officers know at a
glance if a borrower will qualify for a loan program based on the loan
criteria entered. This will reduce errors and lender risk by ensuring the loan
meets investor eligibility guidelines. Administrators also can choose to
configure Marksman to hide ineligible results from loan officers.
“In today’s lending environment, investor compliance checks cannot be left to
chance. The costs of non-compliance are too high,” said Don Kracl, vice
president of mortgage tools for Zillow, Inc. “Since these checks are so
important, it makes sense to run them automatically.”
Marksman has offered manual AllRegs® eligibility checks since 2006. But the
manual process often led to the eligibility test being overlooked until later
in the process, potentially disappointing borrowers late in the loan process.
Automating AllRegs eligibility verification is aimed at improving the overall
borrower experience.
About Mortech, a Zillow business.
Lincoln, Neb.-based Mortech was founded in 1987 to provide product and pricing
engine solutions, including best execution pricing, AllRegs® eligibility,
detailed profit structures and best execution PMI, all for an extensive list
of investors; lead management solutions, including a sophisticated sales
dashboard, ratetracker, automated lead distribution and email marketing; and
lock desk solutions, including lock pipeline management, custom reporting, LO
compensation, LOS integration and the ability to lock directly with investors.
Thousands of correspondent lenders, bankers, credit unions and smaller
community lenders use Mortech® tools. In addition, Mortech serves up mortgage
product and pricing information to some of the top real estate and banking
websites, including Zillow, Bankrate® and LendingTree®. Mortech has been
recognized by Mortgage Technology magazine as a Top 50 Service Provider every
year since 2010. The company won a 2010 Mortgage Technology magazine Synergy
Award with AllRegs. In 2012, Mortech was acquired by leading real estate
information marketplace Zillow, Inc. To learn more about Mortech visit
http://www.mortech.com.
Zillow, Marksman and Mortech are registered trademarks of Zillow, Inc.
AllRegs is a registered trademark of Mortgage Resource Center, Inc. Bankrate
is a registered trademark of Bankrate, Inc. LendingTree is a registered
trademark of LendingTree, LLC.
Contact:
For Mortech
Rick Grant, 570-497-5850
rick.grant@rga-pr.com